"We are excited to take Quamby into the next phase of its life," Mr Sherrard said.

"I moved to Tasmania several years ago and have delighted in seeing this state grow into a fantastic tourism destination.

He noted the accessibility of the Tamar Valley Wine Trail and nearby gourmet farm door outlets as providing an "opportunity to continue to grow tourism in this region".

The homestead was built in the 1830s as the home of Sir Richard Dry, the state’s first Tasmanian-born premier and was sometimes referred to as "Parliament House of the North".

The Anglo-Indian architecture of the main house is complemented by heritage-listed buildings such as the old manager’s residence and office, a blacksmith's workshop, stables, granary and the shearing shed.

Quamby, which is currently closed for the winter, will undergo a refurbishment over the coming months and will reopen in late September 2011.

"We plan to use the winter season to both review and renew the product to expand its appeal to leisure travellers and corporates alike, with a view to having the estate re-opening as a year-round destination," Mr Godfrey said.